Trust Deed Forum - speed up discharge
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weemeee
Frequent Contributor

27 Posts

Posted - 11 April 2018 :  13:28:38  Show Profile  Reply with Quote
Hi, i recently paid my last payment to my trust deed at the end of march. i have been told that my discharge could take up to 6 months. is this the case and if so, can anything be done to speed my discharge up ?
thanks

TDA (Debt Adviser)
Trust Deed Expert



12692 Posts

Posted - 11 April 2018 :  13:43:19  Show Profile  Reply with Quote
Welcome to the forum weemeee.

There's no set timetable for this to happen. Firms can (and do) handle customer's discharge significantly quicker than six months, but they're not required to as far as I'm aware.

All you can really do is try to encourage the firm to complete this work as quickly as they're able to.

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weemeee
Frequent Contributor

27 Posts

Posted - 11 April 2018 :  14:17:56  Show Profile  Reply with Quote
Hi, thanks for your reply. Now that i have paid my last payment iím desperate to finally be free from my trust deed. i am desperately needing to move house for health reasons but canít sell till i receive my discharge as there will be equity which i believe could still be taken by creditors. aslo iím keen to start building my credit score asap.
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TDA (Debt Adviser)
Trust Deed Expert



12692 Posts

Posted - 12 April 2018 :  09:09:19  Show Profile  Reply with Quote
I can certainly see why you'd want your discharge to happen soon weemeee.

Hopefully the firm is covering themselves by saying that it could take up to six months and in reality it will happen much sooner.

If you haven't already, I can't see anything to be lost by letting your trustee know that your health is a factor here and requesting that your case by prioritised on that basis.

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Kevin Mapstone
Trust Deed Expert



3625 Posts

Posted - 12 April 2018 :  09:50:56  Show Profile  Reply with Quote
As Trust deed Assistant says, there is no harm in trying to get yourself put to the top of the list. Arranging your discharge should be a straightforward and quick process. Your trustee should be able to do this and then carry on tying up the loose ends of your Trust Deed prior to applying for their own discharge afterwards.

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weemeee
Frequent Contributor

27 Posts

Posted - 12 April 2018 :  13:35:28  Show Profile  Reply with Quote
Hi, thanks for your replies. I have contacted my trust deed firm and asked if they can speed up the process, they have marked my case as urgent so fingers crossed my discharge happens quickly. Do i need to wait till i receive my discharge before applying for credit etc ?
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TDA (Debt Adviser)
Trust Deed Expert



12692 Posts

Posted - 12 April 2018 :  14:13:30  Show Profile  Reply with Quote
Hi weemeee.

Good news from your trustee there.

I think you'll find that a completed trust deed on your credit file will be less restrictive than an incomplete one. To phrase it another way, credit may be more accessible (and potentially better value as well) after you have been discharged.

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